Dow focusing on scientific innovation, meeting global needs

Published 7:00 pm, Wednesday, November 11, 2009

NEW YORK - The Dow Chemical Co. is reinventing itself into a scientific innovator with the capability to solve major global issues, company leaders said at an event today in New York.

Dow Chairman and CEO Andrew Liveris hosted more than 200 investors at an event inside the halls of a conference center in the bustling financial capital of the country. For more than three hours, he and other Dow leaders shared stories of the company's transformation from a basic chemicals company to one focused on specialty markets, spurred by the purchase of Rohm and Haas Co. last spring.

"Dow of today has all of the elements in place to do what we have to do," he said, highlighting new products focused on specialty markets backed by innovation.

Displays of more than 25 products and businesses lined the walls of the facility, with experts on hand to share how they fit into Dow's future and meet global needs. Included in the event were Dow's POWERHOUSE Solar Shingles, lithium-ion ploymer batteries, diesel particulate filters and more. Many have ties back to Midland, where the company has been headquartered for all of its 112 years.

The key to Dow's success in the future will be meeting the world's demands, and for Dow that means a focus on energy, consumerism, health and nutrition and infrastructure and transportation.

"Innovation is the ability to make a difference in society," said William Banholzer, Dow chief technology officer. "It's also where the money is."

During the day the company also made some major announcements, including that Dow is:

• Forming an alliance with Tata Consultancy Services to reduce business costs while building a facility in Midland that will accommodate 1,250 employees.

• Naming Ravi Shanker president and CEO of Dow Kokam LLC, which will produce lithium-ion ploymer batteries at a Midland site for use in electric and hybrid vehicles.

• Purchasing almost all of Kokam America Inc.'s assets, bringing the technologies and leadership of the battery business to Dow.

• Transferring assets from energy storage company HPL (High Power Lithium) to Dow.

• Partnering with the California Institute of Technology on solar research to develop low cost, high efficiency solar cells.